LSV Asset Management Sells 58,700 Shares of Berkshire Hills Bancorp, Inc. (NYSE:BHLB)

LSV Asset Management decreased its position in Berkshire Hills Bancorp, Inc. (NYSE:BHLB) by 13.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 367,700 shares of the savings and loans company’s stock after selling 58,700 shares during the period. LSV Asset Management’s holdings in Berkshire Hills Bancorp were worth $10,454,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Berkshire Hills Bancorp in the fourth quarter valued at about $485,000. Invesco Ltd. lifted its holdings in shares of Berkshire Hills Bancorp by 20.8% during the 4th quarter. Invesco Ltd. now owns 1,291,547 shares of the savings and loans company’s stock valued at $36,719,000 after purchasing an additional 222,162 shares in the last quarter. Bank of Montreal Can grew its position in shares of Berkshire Hills Bancorp by 7.2% in the 4th quarter. Bank of Montreal Can now owns 10,292 shares of the savings and loans company’s stock valued at $293,000 after purchasing an additional 690 shares during the period. Russell Investments Group Ltd. increased its stake in Berkshire Hills Bancorp by 2,259.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,265 shares of the savings and loans company’s stock worth $64,000 after purchasing an additional 2,169 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Berkshire Hills Bancorp by 8.6% during the 4th quarter. Wells Fargo & Company MN now owns 28,202 shares of the savings and loans company’s stock worth $802,000 after purchasing an additional 2,242 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Berkshire Hills Bancorp Stock Down 0.3 %

Berkshire Hills Bancorp stock opened at $22.90 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. Berkshire Hills Bancorp, Inc. has a 1-year low of $20.50 and a 1-year high of $32.36. The company has a fifty day simple moving average of $26.88 and a 200 day simple moving average of $28.05. The company has a market cap of $1.06 billion, a P/E ratio of 15.90 and a beta of 0.58.

Berkshire Hills Bancorp (NYSE:BHLB) last announced its quarterly earnings data on Thursday, January 30th. The savings and loans company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.06. Berkshire Hills Bancorp had a return on equity of 8.91% and a net margin of 8.56%. Research analysts anticipate that Berkshire Hills Bancorp, Inc. will post 2.52 earnings per share for the current fiscal year.

Berkshire Hills Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.14%. The ex-dividend date was Thursday, February 20th. Berkshire Hills Bancorp’s dividend payout ratio (DPR) is currently 50.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of Berkshire Hills Bancorp from $32.00 to $34.50 and gave the company a “market perform” rating in a report on Tuesday, December 24th. Seaport Res Ptn raised shares of Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Piper Sandler upgraded Berkshire Hills Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $31.00 price target on shares of Berkshire Hills Bancorp in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.13.

Insider Buying and Selling at Berkshire Hills Bancorp

In other Berkshire Hills Bancorp news, EVP Ellen Tulchiner sold 1,052 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $29.97, for a total transaction of $31,528.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Berkshire Hills Bancorp Profile

Berkshire Hills Bancorp, Inc operates as the bank holding company for Berkshire Bank that provides various banking products and services in the United States. The company provides various deposit accounts, including demand deposit, interest-bearing checking, regular savings, money market savings, time certificates of deposit, and retirement deposit accounts.